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JANUARY –
FEBRUARY
2021
, QUESTION 1: CASH FLOW & ANALYSIS OF
FINANCIAL & NON – FINANCIAL INFORMATION
& DISCUSSION
(a) CASH FLOW STATEMENT OF SMARTPAY LTD FOR THE YEAR ENDED
2019 2018
R`000 R`000 R`000 R`000
OPERATING ACTIVITIES `
Net income before taxation 46 166 56 560
Adjustments 94 678 27 445
Net interest paid 39 264 20 862
Depreciation & loss on sale of non –
current assets 3 502 2 237
Goodwill written off 51 912 4 346
Profit after adjustments 140 844 84 005
Movements in working capital (153 167) (82 658)
Increase in inventory [(192 085 −
149 002); (149 002 − 109 238)] (43 083) (39 764)
Increase in trade receivables
[(425 665 − 229 633); (229 633 −
183 493)] (196 032) (46 140)
Increase in trade & other payables
[(130 732 − 44 784); (44 784 − 41 538)] 85 948 3 246
Net cash generated / (used) in
operations (12 323) 1 347
Net interest paid (39 264) (20 862)
Tax paid (1 721) (777)
Dividends paid [(11 606 + 5 306 +
21 222 − 17 409); (8 290 + 2 271 +
15 138 − 11 606] (20 725) (14 093)
Net cash inflow / (outflow from
operations) (74 033) (34 385)
INVESTING ACTIVITIES
Net acquisition / sale of non – current
assets [(16 069 − 14 696 + 3 502 +
51 912); (14 696 − 13 978 + 2 237 +
4 346)] (56 787) (7 301)
Net cash outflow from investing
activities (56 787) (7 301)
JANUARY –
FEBRUARY
2021
, QUESTION 1: CASH FLOW & ANALYSIS OF
FINANCIAL & NON – FINANCIAL INFORMATION
& DISCUSSION
(a) CASH FLOW STATEMENT OF SMARTPAY LTD FOR THE YEAR ENDED
2019 2018
R`000 R`000 R`000 R`000
OPERATING ACTIVITIES `
Net income before taxation 46 166 56 560
Adjustments 94 678 27 445
Net interest paid 39 264 20 862
Depreciation & loss on sale of non –
current assets 3 502 2 237
Goodwill written off 51 912 4 346
Profit after adjustments 140 844 84 005
Movements in working capital (153 167) (82 658)
Increase in inventory [(192 085 −
149 002); (149 002 − 109 238)] (43 083) (39 764)
Increase in trade receivables
[(425 665 − 229 633); (229 633 −
183 493)] (196 032) (46 140)
Increase in trade & other payables
[(130 732 − 44 784); (44 784 − 41 538)] 85 948 3 246
Net cash generated / (used) in
operations (12 323) 1 347
Net interest paid (39 264) (20 862)
Tax paid (1 721) (777)
Dividends paid [(11 606 + 5 306 +
21 222 − 17 409); (8 290 + 2 271 +
15 138 − 11 606] (20 725) (14 093)
Net cash inflow / (outflow from
operations) (74 033) (34 385)
INVESTING ACTIVITIES
Net acquisition / sale of non – current
assets [(16 069 − 14 696 + 3 502 +
51 912); (14 696 − 13 978 + 2 237 +
4 346)] (56 787) (7 301)
Net cash outflow from investing
activities (56 787) (7 301)
